Answer:
Option (B) is correct.
Explanation:
Given that,
CPI in 2015 = 114.7
CPI in 2016 = 124.5
The difference in the CPI from 2015 to 2016:
= CPI in 2016 - CPI in 2015
= 124.5 - 114.7
= 9.8
Inflation rate:
= (Difference between CPI ÷ CPI of first year) × 100
= (9.8 ÷ 114.7) × 100
= 8.544%
Hence, the rate of inflation between 2015 and 2016 was 8.5%.
